SDLTM28410 - Reliefs: Alternative property finance

Land sold to financial institution and re-sold to individual: Detailed rules FA03/S73(1)

To take advantage of this relief, arrangements must be entered into between an individual and a financial institution as follows

• the financial institution purchases a major interest in land - the first transaction
• sells that interest to the individual, that is sells the whole of the major interest obtained to the individual - the second transaction
• the individual grants the financial institution a legal mortgage over that interest